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<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLER OF COUNCIL USE ONLY: <br /> <br />AUGUST 7, 2006 <br />TITLE <br /> <br />APPR VED <br />D As Recommended <br />D As Amended <br />D Ordinance on 1" Reading <br />D Ordinance on 20d Reading <br />D Implementing Resolution <br />D Set Public Hearing For <br /> <br />QUARTERLY REPORT OF INVESTMENTS AS <br />OF JUNE 30, 2006 <br /> <br />CONTI UED TO <br /> <br />\)~ 1L.~ <br /> <br />;J. <br /> <br />FILE N MBER <br /> <br />CITY MANAGER <br /> <br />..,.,-;" <br /> <br />RECOMMENDED ACTION <br /> <br />Receive and file. <br /> <br />DISCUSSION <br /> <br />In 1995, the State of California enacted 1 gislation revising the <br />reporting requirements relative to investment f funds by governmental <br />agencies. These requirements, which became effe tive on January 1, 1996, <br />mandate that a statement outlining the ability f both the City and the <br />Redevelopment Agency to meet the budgeted expend'tures for the subsequent <br />six months be submitted to the City Council on a quarterly basis. The <br />legislation dictates that this quarterly repor contain the following <br />seven major elements: <br /> <br />Type of investments; <br />Date of maturity; <br />Par and dollar amounts invested in eac security; <br />Weighted average maturity of the inves ments; <br />Market value as of the date of the rep rt; <br />Source of the market value information and <br />Any funds, investments or programs, including loans, under the <br />management of contracted parties. <br /> <br />The Finance and Management Services Executive Di ector has historically <br />prepared a monthly report of investments. This ffice will continue to <br />provide this information monthly; however, a qua terly report of <br />investments will be presented at a regular counc 1 meeting. In compliance <br />with State law and the City's Investment Policy, the attached report <br />(Exhibit 1) accurately reflects all pooled inves ments held on behalf of <br />the City and Redevelopment Agency as of June 30, 2006. <br /> <br />19C-1 <br />